Sold for cash half the goods …
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Shashi Ramachandran 7 years, 7 months ago
Half of the goods purchased are sold and PURCHASE are missing
Let me take purchases as 20,000
List price of sold goods= 10000 (1/2 of 20,000)
Add: profit 25%of10,000=2500___
12500
Less: trade discount 5%=625
Invoice price 11875
CGST 6% of 11875 =712.5
SGST 6% of 11875=712.5
Cash A/c. Dr. 13,300
To Sales A/c. 11875
To output CGST. 712.50
To output SGST. 712.50
In Cash book post this on Dr. Side as
To Sales
To output CGST
To output SGST
1Thank You